GOTION(SZ:002074) Hua Tai Qi Huo·2025-12-09 03:08Group 1: Market Analysis - On December 8, 2025, the main lithium carbonate contract 2605 opened at 92,460 yuan/ton and closed at 94,840 yuan/ton, with a closing price change of 1.76% compared to the previous day's settlement price. The trading volume was 599,367 lots, and the open interest was 593,129 lots, compared to 560,676 lots in the previous trading day. The current basis was -610 yuan/ton (average price of electric carbon - futures). The lithium carbonate warehouse receipts were 13,120 lots, a change of 2,198 lots from the previous trading day [1]. Group 2: Spot Market - According to SMM data, the price of battery - grade lithium carbonate was quoted at 91,100 - 94,400 yuan/ton, a change of - 500 yuan/ton from the previous trading day. The industrial - grade lithium carbonate was quoted at 89,900 - 90,800 yuan/ton, a change of - 450 yuan/ton. The price of 6% lithium concentrate was 1,173 US dollars/ton, a change of 15 US dollars/ton from the previous day [2]. - Downstream material factories made bargain purchases, but as the futures price gradually increased, their purchasing willingness returned to a cautious and wait - and - see attitude. The annual long - term contract negotiations between upstream and downstream enterprises were still ongoing, with the focus of the game on next year's price coefficient and procurement volume [2]. - With the gradual commissioning of some new production lines and the pull of downstream demand on production, it is expected that the domestic lithium carbonate output in December will continue to grow, with a month - on - month increase of about 3%. In December, new energy vehicle sales are expected to remain strong; the energy storage market will continue the situation of strong supply and demand, and the supply - tight pattern will remain. The production schedules of cells and cathode materials are expected to remain high in December, with a slight month - on - month decline. Overall, in the context of steadily increasing supply and relatively stable overall demand, it is expected that lithium carbonate will continue to be destocked in December, but the magnitude will slow down compared to November [2]. Group 3: Company News - On December 4, 2025, Guoxuan High - Tech (002074) stated on the investor platform that the G - Yuan quasi - solid - state battery had completed relevant testing work and started verification work. The Jinshi all - solid - state battery achieved the landing of the pilot production line and internal vehicle road tests in the first half of this year, and is currently promoting the design work of the 2GWh mass - production line. Guoxuan's first all - solid - state 0.2GWh experimental line was officially connected, and the yield rate of this production line reached 90% through the application of key technologies such as high - precision coating [3]. Group 4: Strategy - The intraday trading was volatile, inventory was continuously destocked, and consumption provided some support. Currently, the resumption of production at the mine end is in progress, and it is expected to resume gradually in the future. There are significant differences in the consumption forecast for the first quarter. It is expected that the power battery segment will decline, while the energy storage segment will remain high. Attention should be paid to the inflection points of consumption and inventory. The short - term strategy is to wait and see for single - side trading. There are no strategies for inter - period, inter - variety, spot - futures, or options trading [4].